Q1 2023 Holdings
Filed 2023-04-28 | 152 holdings | $1.5B | 13F-HR | View on SEC ↗ · Holdings Table ↗
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| Issuer | Class | CUSIP | Value ↓ | Shares | % Portfolio |
|---|---|---|---|---|---|
| Southwest AIR(LUV) | COM | 844741108 | $210.4M | 6,466,356 | 13.6% |
| American Airline(AAL) | COM | 02376R102 | $194.7M | 13,202,734 | 12.6% |
| Delta AIR LI(DAL) | COM NEW | 247361702 | $192.9M | 5,522,729 | 12.5% |
| United Airlines(UAL) | COM | 910047109 | $176.9M | 3,997,430 | 11.5% |
| Jetblue Airways(JBLU) | COM | 477143101 | $70.5M | 9,685,274 | 4.6% |
| Allegiant Travel(ALGT) | COM | 01748X102 | $70.2M | 763,248 | 4.6% |
| Alaska AIR Group(ALK) | COM | 011659109 | $68.5M | 1,631,317 | 4.4% |
| Hawaiian Holding(HAN) | COM | 419879101 | $65.9M | 7,167,513 | 4.3% |
| Booking Holdings(BKNG) | COM | 09857L108 | $40.3M | 15,179 | 2.6% |
| Boeing Co(BA) | COM | 097023105 | $40.0M | 188,497 | 2.6% |
| General Dynamics(GD) | COM | 369550108 | $38.8M | 170,186 | 2.5% |
| Textron Inc(TXT) | COM | 883203101 | $37.7M | 534,143 | 2.4% |
| Tripadvisor Inc(TRIP) | COM | 896945201 | $37.6M | 1,892,640 | 2.4% |
| Expedia Group in(EXPE) | COM NEW | 30212P303 | $35.3M | 363,504 | 2.3% |
| Sabre Corp(SABR) | COM | 78573M104 | $33.5M | 7,810,673 | 2.2% |
| Trip.com GRO(CLV) | ADS | 89677Q107 | $20.4M | 541,414 | 1.3% |
| Ryanair Hldg(RYAAY) | SPONSORED ADS | 783513203 | $19.3M | 204,656 | 1.3% |
| Copa Holdin(CPA) | CL A | P31076105 | $19.0M | 205,400 | 1.2% |
| Wheaton Precious Metals Corp(WPM) | COM | 962879102 | $12.7M | 263,039 | 0.8% |
| Embraer SA(EMBJ) | SPONSORED ADS | 29082A107 | $11.6M | 709,307 | 0.8% |
| Royal Gold Inc(RGLD) | COM | 780287108 | $10.9M | 83,989 | 0.7% |
| Franco NEV Corp(FNV) | COM | 351858105 | $10.4M | 71,661 | 0.7% |
| Azul SA | SPONSR ADR PFD | 05501U106 | $10.4M | 1,457,883 | 0.7% |
| Grupo Aeropo(ASR) | SPON ADR SER B | 40051E202 | $10.2M | 33,291 | 0.7% |
| Anglogold AS(AU3EUR) | SPONSORED ADR | 035128206 | $6.6M | 272,362 | 0.4% |
| Drdgold Limited(DRD) | SPON ADR REPSTG | 26152H301 | $5.8M | 608,492 | 0.4% |
| Harmony Gold Mining Co LTD(HAM) | SPONSORED ADR | 413216300 | $5.3M | 1,303,063 | 0.3% |
| Alamos Gold Inc New(AGI) | COM CL A | 011532108 | $4.7M | 385,000 | 0.3% |
| VOX Royalty Corp(VOXR) | COM | 92919F103 | $4.3M | 1,370,000 | 0.3% |
| Osisko Gold Roya(OREUR) | COM | 68827L101 | $3.9M | 244,025 | 0.3% |
| Sandstorm Gold(AYS1) | COM NEW | 80013R206 | $3.8M | 647,442 | 0.2% |
| Silvercorp Metal(SVM) | COM | 82835P103 | $3.4M | 900,712 | 0.2% |
| Sibanye Stillwater LTD(SBSW) | SPONSORED ADR | 82575P107 | $3.3M | 398,501 | 0.2% |
| Iamgold Corp(IAG) | COM | 450913108 | $3.0M | 1,107,346 | 0.2% |
| New Gold Inc(NGD) | COM | 644535106 | $2.9M | 2,643,050 | 0.2% |
| Fortuna Silver(FVICHF) | COM | 349915108 | $2.8M | 745,422 | 0.2% |
| Tesla Inc(TSLA) | COM | 88160R101 | $2.8M | 13,555 | 0.2% |
| EMX Royalty Corp(EMX) | COM | 26873J107 | $2.4M | 1,250,000 | 0.2% |
| Kinross Gold Corp(KGC) | COM | 496902404 | $2.4M | 500,000 | 0.2% |
| Gold Fields(EDG) | SPONSORED ADR | 38059T106 | $2.3M | 174,828 | 0.2% |
| Hilton Worldwide Hldgs Inc(HLT) | COM | 43300A203 | $1.8M | 12,900 | 0.1% |
| Amazon COM Inc(AMZN) | COM | 023135106 | $1.8M | 17,500 | 0.1% |
| Marriott Intl Inc New(MAR) | CL A | 571903202 | $1.8M | 10,800 | 0.1% |
| Agnico Eagle Mines LTD(AEM) | COM | 008474108 | $1.8M | 35,000 | 0.1% |
| Apple Inc(AAPL) | COM | 037833100 | $1.7M | 10,600 | 0.1% |
| Vizsla Silver Co | COM NEW | 92859G202 | $1.7M | 1,125,000 | 0.1% |
| Sabine Royalty TR(SBR) | UNIT BEN INT | 785688102 | $1.4M | 20,000 | 0.1% |
| Eldorado Gold Corp New(EGO) | COM | 284902509 | $1.3M | 125,000 | 0.1% |
| Northern TR Corp(NTRS) | COM | 665859104 | $1.2M | 13,470 | 0.1% |
| Cheniere Energy Inc(LNG) | COM NEW | 16411R208 | $1.2M | 7,500 | 0.1% |